TATAPOWER-P-1 Near and medium term View-Accumulation & breakout

Tata Power (CMP: 392.10), is fundamentally strong counter, has shown muted profit in this quarter Q3FY23-24.
Accumulation:
Should be accumulated in every dip, the level to keep in mind is as below
Accumulation Zone : 395-372; Strict Stop loss : 364 on closing basis.
Violations of Rs. 364 will further break the script to Rs: 300
Breakout:
Breakout above 415 on closing basis with good volumes and will take the script to Rs. 485.

Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance

Trade active:

Tata power is nearing its time correction zone and consolidation phase as seen on charts. Breakout is expected above 415 levels in near term and should take the script to Rs 470;
Fresh entry in the stock can be taken on confirmation of brekout, ( Closing above Rs 415 & volumes of more than 4.5 Cr )
with a stop loss of Rs: 390.

Trade active:

Next few trading session will take the script to pass 450 marks and take it to levelmof 485.